Dec, 31, 2023 — ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION (ECTFCU) is a federal credit union headquartered in BLOOMFIELD, NJ with 2 branch locations and about $22.62 million in total assets. Opened 88 years ago in 1936, ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION (ECTFCU) has about 3,937 members and employs 10 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION |
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Address: (Main Office) | 125 Franklin St BLOOMFIELD, NJ 07003-5730 |
Phone: | (973) 748-8847 |
Fax: | (973) 748-8846 |
Website: | https://www.ectcu.org |
Branches: | 2 branch locations |
Members: | 3,937 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 1131 |
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Membership Type: | Multiple common bond - Primarily educational |
Corporate Credit Union: | No |
Year Opened: | 1936 |
Last Audited: | Sep 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $22,619,643 |
CEO/Manager: | Robert D Steeves |
Chairperson: | Kenneth King |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,698,553 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 1,962,899 |
Unsecured Loans | 2,986,588 |
Other Loans | 5,057,873 |
TOTAL LOANS | 10,007,360 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -219,721 |
Land And Building | 132,053 |
Other Fixed Assets | 16,468 |
NCUSIF Deposit | 217,343 |
All Other Assets | 0 |
TOTAL ASSETS | 22,619,643 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 365,942 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 1,813,211 |
Regular shares | 16,378,053 |
All Other Shares & Deposits | 2,429,906 |
TOTAL SHARES & DEPOSITS | 20,621,170 |
TOTAL LIABILITIES | 20,987,112 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 1,632,531 |
TOTAL EQUITY | 1,632,531 |
TOTAL LIABILITIES, SHARES, & EQUITY | 22,619,643 |
INCOME & EXPENSE | |
Loan Income | 745,175 |
Investment Income | 284,590 |
Other Income | 195,840 |
Total Employee Compensation & Benefits | 459,903 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 410,422 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 205,000 |
Cost of Funds | 42,102 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 182,975 |
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